Industry Overview

Hiranandani to set up 5 hotels in Chennai, Hyderabad, Mumbai and Bangalore

Details: Category: Industry Overview

The Mumbai based construction major Hiranandani is planning to put up 5 hotels in 2 in Chennai, one each in Hyderabad, Bangalore and Mumbai. It is in talks with international hotels for management of these hotels. In Chennai, it will put up a boutique hotel with 60 – 70 rooms at an investment of Rs. 300 million and a 350 rooms 5 star hotel with an investment of Rs. 3750 million. The boutique hotel will be completed by Oct 09. In Mumbai, it will construct a 148 room hotel near Powai and will invest around Rs.1400 million.

The company will go for phased inauguration in these hard times to help cash flow. The hotel industry has been in turbulent times following terror attacks and economic slow-down.

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KSTDC to upgrade its facilities

Details: Category: Industry Overview

Karnataka State Tourist Development Corp is planning to upgrade its facilities and few hotels to 2-3 star grade to attract more tourists. It plans to add 26 rooms in its Madikeri property, 10 new rooms in Srirangapatna and 14 rooms in Badami with investments around Rs.100 million. Some of its hotels in Nandi Hills, Hampi, Muthyalmadu, Mysore and Madikeri will go for a makeover. It will add Ayurvedic massage parlour, landscaping and conference facilities. It will also offer combo packages from air-conditioned buses to rooms.

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ITC opens first hotel in Lavasa, largest hill city

Details: Category: Industry Overview

Fortune Park Hotels, a subsidiary of ITC has commenced operations in India’s largest hill city Lavasa. This hotel is built with partnership with Lavasa Corporation and Fortune Park hotels on the picturesque Sahayadri hills facing Warasgaon lake. The hotel has 60 rooms and offers a choice of suites and standard rooms and views of hills or lake as choice. It has all modern amenities like banquet, swimming pool, bar etc.,

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Hotels raise tariff upto 8-15%

Details: Category: Industry Overview

Hotel industry, as a part of regular exercise reviewed its tariff after the off-season and raised its tariff upto 8-15%. However, not all hotels have increased, while the premium suites tarrif increase are nominal (say 3-6%). This increase will account for inflation, investments in the last year and to take account of market dynamics. These rates will come into effect from Sept 1 2008.

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